Global stock markets are staging a steady recovery as of the New York open on March 23, 2026, with S&P 500 futures (US500) climbing over 1.50%, reflecting a gradual return of investor confidence.
The positive momentum extended into Asian instruments, reversing earlier losses, as Japan’s Nikkei 225 rose over 4% and Australia’s ASX 200 advanced 3% by the New York open.
In Europe, London’s FTSE 100 recovered from an initial 0.98% decline to trade over 1.7% higher, as sentiment improved after Donald Trump said earlier planned strikes on Tehran had been postponed.
Gold rebounded from a sharp drop below $4,100, up 0.2% to $4,500 per ounce, while Brent crude stabilized around $97 per barrel, down from Friday’s close of $112, even as Nigeria’s All-Share Index slipped 1.07%.
What Trump is saying
President Donald Trump said he has ordered U.S. military strikes on Iranian power plants and energy infrastructure be postponed for five days after “good and productive conversations” with Tehran.
- The announcement follows a Saturday ultimatum giving Tehran 48 hours to reopen the Strait of Hormuz, warning the U.S. would “obliterate” Iran’s power plants if it refused.
- Trump’s ultimatum aimed to end Tehran’s chokehold on the Strait of Hormuz, a critical route through which roughly a fifth of global oil and liquefied natural gas supplies pass.
- On his Truth Social platform, Trump stated, “I have instructed the Department of War to postpone any and all military strikes for five days, subject to ongoing meetings and discussions.”
Iran said there had been no direct talks, suggesting Trump’s move was designed to lower energy prices and “buy time” for potential U.S. military plans.
Tehran had threatened to strike electricity targets across the region if Trump followed through on his threat to “obliterate” the country’s power network unless the Strait was reopened.
After Trump’s posts, S&P 500 futures on the London timeframe surged over 2%, climbing from 6,400 to above 6,600, while Brent crude stabilized around $97 per barrel.
Get up to speed
Crude oil prices broke above the $93-per-barrel resistance in early March 2026, a level last seen in September 2023.
- Tracked by Brent Crude futures, the breakout mirrored growing global supply worries, as traders reacted to geopolitical tensions between Iran and Israel.
- These concerns intensified after the United States launched Operation “Epic Fury” against Iran on February 28, 2026, sending crude prices sharply higher and rattling global energy markets.
Brent crude, which began the year around $60–$61 per barrel, has since surged above $95, driving up costs for refined products like heating oil and impacting energy-dependent sectors.
U.S. equities, tracked by the S&P 500, dropped over 4%, falling from 6,800 to 6,400 points on Friday, March 20, but have rebounded to 6,600 following Trump’s recent speech.
What you should know
The Nigerian equities market remained unfazed, slipping 1.07%, despite bullish action in the S&P 500 and other major global indices.
Silver surged over 2% after the New York open, while platinum and palladium also recorded notable recoveries.
If bullish momentum in the S&P 500 continues, the index could climb back toward 6,700 points.
